AASB 111 - Construction Contracts - July 2004
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Accounting Standard AASB 111 Construction Contracts as amended
This compiled Standard applies to annual reporting periods beginning on or after 1 July 2015. It takes into account amendments up to and including 28 January 2015 and was prepared on 2 April 2015 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB. Instead, it is a representation of AASB 111 (July 2004) as amended by other Accounting Standards, which are listed in the Table below.
Table of Standards
| Standard | Date made | Application date(annual reporting periods … on or after …) | Application, saving or transitional provisions |
|---|---|---|---|
| AASB 111 | 15 Jul 2004 | (beginning) 1 Jan 2005 | |
| AASB 2007-6 | 14 Jun 2007 | (beginning) 1 Jan 2009 | see (a) below |
| AASB 2007-8 | 24 Sep 2007 | (beginning) 1 Jan 2009 | see (b) below |
| AASB 2007-10 | 13 Dec 2007 | (beginning) 1 Jan 2009 | see (b) below |
| AASB 2009-1 | 22 Apr 2009 | (beginning) 1 Jan 2009and (ending) 30 Apr 2009 | see (c) below |
| AASB 2009-6 | 25 Jun 2009 | (beginning) 1 Jan 2009and (ending) 30 Jun 2009 | see (d) below |
| AASB 2010-2 | 30 Jun 2010 | (beginning) 1 Jul 2013 | see (e) below |
| AASB 2015-3 | 28 Jan 2015 | (beginning) 1 Jul 2015 | see (f) below |
(a) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 123 Borrowing Costs (June 2007) is also applied to such periods.
(b) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 101 Presentation of Financial Statements (September 2007) is also applied to such periods.
(c) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2009 that end before 30 April 2009, provided that AASB 123 Borrowing Costs (June 2007) is also applied to such periods.